Tyovene, a subsidiary of Summa Defence, has acquired the Olkiluoto shipyard from Aslemetals. The deal includes the shipyard’s buildings and equipment, and the associated land lease will also transfer with the purchase.
The company said the acquisition is intended to significantly expand its newbuilding and repair capabilities. Tyovene’s Managing Director, Juha Granqvist, said production at the site is planned to begin this summer, with investments in facilities and equipment scheduled for the summer and early autumn.
“This is an important investment in our shipyard business and significantly increases our newbuilding capacity while also enabling us to ramp up repair business operations,” said Granqvist.
Granqvist added that operations at the company’s Uusikaupunki shipyard will continue and that there are no plans to transfer production from that site to Olkiluoto.
“With the financing and support of the Summa Defence group, it is possible to scale up production quickly and increase volume,” said Summa Defence CEO Jussi Holopainen.
Further financial details of the acquisition were not disclosed.